Imdad Hussain
NeuraSim is leading an eye-care revolution in an era when technology is transforming healthcare. The company’s core product, BeeVee Vision Therapy, is changing traditional vision therapy with a gamified, immersive approach driven by a cutting-edge VR wearable headset. Founded in 2022 by an innovative trio Dr. Ramesh S Ve, Girish Somvanshi, and Pradeep Walia NeuraSim is inspired by a mission to treat one of the most ignored yet debilitating vision issues: amblyopia, also known as “lazy eye.” NeuraSim’s journey, supported by an international grant and the personal stories of its staff, is as captivating as the revolutionary answer it provides.
The Genesis: A Confluence of Passion and Expertise
Every revolutionary venture begins with a spark of imagination, and NeuraSim is no different. BeeVee Vision Therapy was founded on the issues that both patients and practitioners experience in the real world. Dr. Ramesh S Ve, a Clinician Scientist and experienced optometrist researcher educated at the prestigious Birla Institute of Technology and Science (BITS), has spent a decade studying glaucoma and the underlying causes of blindness. During his clinical practice, he saw a troubling pattern: many young patients, including a 7-year-old girl whose battle with amblyopia left an indelible impression on him. Seeing how the brain tends to disregard the weaker eye, Dr. Ramesh decided to create a therapy that may reorganize neural circuits and train both eyes to function together.
Girish Somvanshi, another co-founder, brought his significant 16-year pharmaceutical sector experience to the table. Girish strengthened his sales, execution, and strategic market penetration talents while working for prominent businesses such as Cipla, where he handled Central Nervous System (CNS) pharmaceuticals. His experience complemented Dr. Ramesh’s clinical competence. Pradeep Walia, the third founder member, believed in the transformative power of innovative healthcare solutions and invested ₹30 lakhs in the enterprise. Despite his low public visibility, Pradeep has played an important role in directing the company’s strategic decisions.
Aviral Dwivedi, the Chief Technology Officer (CTO), joins this committed team. Aviral’s path is equally personal and professional. Aviral, who suffers from amblyopia (a disease in which one eye processes images differently than the other), understands the difficulties that come with it. His personal experience has fuelled his determination to integrate technology and healthcare, guaranteeing that BeeVee Vision Therapy is not only successful but also compassionately created for those who require it the most.
Behind the Scenes: The Creation of BeeVee Vision Therapy
The road to innovation is rarely smooth, and NeuraSim‘s journey was no exception. In the early days of its 2022 formation, the team spent many hours in research labs and clinical environments. Dr. Ramesh’s comprehensive research into the causes of blindness, as well as his clinical trials, paved the way for what became BeeVee Vision Therapy. He witnessed the limitations of traditional vision rehabilitation, which was frequently sluggish, cumbersome, and ineffective for young patients. This finding sparked the concept of a therapy that was both scientifically rigorous and interesting enough to hold a child’s interest.
At the same time, Aviral’s personal problem with amblyopia served as the technical push for the endeavor. Aviral, while working on early VR application prototypes, envisioned a way in which the immersive environment of virtual reality might be used to give targeted, rapid improvements in visual function. The end result was a gamified therapeutic platform that claimed results twice to six times faster than standard procedures. The VR headset, weighing only 180 grams, was precisely built for comfort, allowing youngsters to participate in 20-minute therapeutic sessions without tiredness.
The Business Model is Pre-Revenue yet Poised for a Breakthrough
Despite its promising therapeutic promise and successful early trials, NeuraSim is still a pre-revenue startup. However, the financial architecture and unit economics indicate a bright future. The company has carefully planned its therapy session pricing to ensure sustainability and scalability once it enters the revenue phase.
Unit Economics Breakdown
NeuraSim’s business model is based on a straightforward but effective revenue-sharing structure for home therapy sessions. Consider the data below:
- Estimated Home Therapy Session Price: ₹200
- Monthly Home Therapy Sessions:
- Paid to NeuraSim: ₹12,000
- Price for Patients: ₹18,000
- Paid to Doctors: ₹6000
This strategy not only demonstrates a clear margin for NeuraSim, but it also assures that all stakeholders- patients, clinics, and doctors- benefit from the process. The balance of ₹12,000 per month paid to NeuraSim against overall patient costs and doctor salary demonstrates a well-thought-out unit economy, equipping the company to grab significant market share as it grows.
Equity Structure and Financial Position
NeuraSim’s stake allocation represents balanced cooperation between its major actors and strategic collaborato₹ The current equity split is as below:
- Dr. Ramesh S Ve: (33.34%)
- Polish Partner: (33.33%)
- Pradeep Walia: (25.33%) and Girish Somvanshi (8%).
The addition of a Polish partner, supported by a US technology patent issued to Remmed UR for the VR-based therapeutic equipment, improves the company’s technological foundation. Remmed VR granted NeuraSim perpetual licenses to utilize and adapt BeeVee Therapy with unfettered rights, providing long-term freedom to innovate and expand.
The Shark Tank India Experience
On Shark Tank India, investors were drawn to NeuraSim’s ground-breaking concept. During the pitch, the team proposed ₹1 crore in exchange for 8% equity, implying a firm worth of ₹12.5 crores. Although no settlement was reached during the program, the reception was extremely positive. The sharks praised BeeVee Vision Therapy for its creative blend of VR and gamification with therapeutic competence.
While the Shark Tank experience did not result in a cash transaction, it provided NeuraSim with a valuable platform. It increased the company’s visibility and provided crucial information for fine-tuning its business model for potential investors. The enthusiastic reception demonstrated that, despite the company’s present pre-revenue status, its technological promise and creative approach have positioned it as a potential disruptor in the eye-care market.
Conclusion
BeeVee Vision Therapy promises to achieve outcomes two to six times faster than traditional treatments by combining a rigorous, scientifically supported methodology with the compelling power of gamification and virtual reality. With over 800 patients previously treated and an innovative unit economic model in place, NeuraSim is prepared to set new benchmarks for vision therapy. As NeuraSim refines its product, expands its market reach, and secures additional funding, its ambition is clear, to usher in an eye-care revolution by providing patients with faster, more effective treatment alternatives. NeuraSim is not only solving a therapeutic need, but it is also paving the way for a future in which technology and empathy work together to restore eyesight and alter lives.